System-level change requires collaboration across a range of partners—social entrepreneurs know this well. It’s become clear that a collaborative approach among funders is also a critical piece of the puzzle of solving the world’s most pressing problems. Today, a collection of leading philanthropists announced the launch of Co-Impact, which will invest $500 million in health, education, and economic opportunity to ignite systems level change in communities across the developing world.

Jeff Skoll joins Richard Chandler, Bill and Melinda Gates, Dr. Romesh and Kathy Wadhwani, and The Rockefeller Foundation in this landmark effort. Olivia Leland, Managing Director at the Rockefeller Foundation and founding director of the Giving Pledge, is the founder of Co-Impact and will be Co-Impact’s CEO. Additional core partners will join as co-investors interested in specific initiatives or geographic areas.